A car dealer s investigating what drives a car resale value. Results from a regr

Question

A car dealer s investigating what drives a car resale value. Results from a regression are shown in table below. The variable Sport is a dummy = 1 if a sport car, zero otherwise.

1) The interpretation for the coefficient of the variable SuggestedPrice is .....

Coefficients Unstandardized Standardized Coefficients Coefficients Model Sig. Std Bela Error 11947 .000 1.897 .069 3.660 .001 Constant 42.5543.562 SuggestedPrice .000 000 270 Sport 7.917 |2.163|.567 a. Dependent variable car resale value (Thousand $)

Explanation / Answer

Interpretation of SuggestedPrice:

As the suggested price increases by 1 unit, the resale value of the car increases by 0.000 thousand dollars.

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